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Derek wants to withdraw $11,738.00 from his account 5.00 years from today and $12,373.00 from his account 13.00 years from today. He currently has $2,267.00
Derek wants to withdraw $11,738.00 from his account 5.00 years from today and $12,373.00 from his account 13.00 years from today. He currently has $2,267.00 in the account. How much must he deposit each year for the next 13.0 years? Assume a 5.51% interest rate. His account must equal zero by year 13.0 but may be negative prior to that. Answer format: Round to 2 decimal places
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